I found this information about Zerodha on an online forum. Zerodha seems to know what it is doing and they seem to be heading in the right direction. Read on...
The quoted text has been picked from another source...
"1. Brokerage: It is 20 Rs per executed order and not for 1 lot. What it means is, if you place a buy order for 10 lots of nifty and each lot gets executed as a different trade, you still pay Rs 20 only. We charge based on the executed order number, so even if you modify an order it will all be part of the Rs 20. Only if you cancel the order and place a fresh order which gets executed, then Rs 20 is charged again..This applies for intraday cash, delivery, futures and options.
Alternative plan: For people whose trading size in cash segment is really less for intraday,( less than Rs 10000) we also offer an alternative plan. Without any conditions we offer 0.01% for intraday and 0.1% for delivery, Futures and Options will be in the default plan of Rs20/Transaction. The idea is to give options to the trader that best suits his needs.

2. Platform: NOW( Neat on WEB) provided by the NSE today is the fastest, most reliable platform with probably the lowest latency. When you place an order or when you are looking at the quotes on your terminal, traditionally you have to get through your brokers server which might slow it down. With NOW, you don't have to rely on Zerodha's server, you are relying on the NSE servers in the exchange. This is very important, especially in times of market volatility when reduced capacity of the brokers server may affect your trades. Also the chances of NOW not working or having a downtime is next to Zero.
NSE NOW comes in both web based and exe based platform. we will give access to both the platforms.
Why is NSE NOW not well known?? Most of the existing brokers are already having risk management software for other platforms like ODIN, NEST etc and hence can't offer NOW which is a relatively new product of NSE.
NSE NOW dealayed?? Not at all, it is the fastest platform in the country today.
NSE NOW charting?? Not the greatest product available, very basic tools. We have been told that NOW would be upgrading the charting from the beginning of next year.

3. Margins: Intraday: 10 times for all the f&o scrips for intraday.. 5 times for all the other stocks for intraday..
Futures: 50% of the NSE stipulated span margin for intraday. Full margin for overnight positions. By
3.10 pm all the intraday positions would have to be converted by bringing in the total margin if intended to carry forward.
Delivery: 100 % of the margin.

4. Fund transfers:
Into the trading account: Through any bank with RTGS and NEFT facility. Additional benefit for HDFC and Axis bank account holders is that they can transfer through the NOW terminal.If done through RTGS and NEFT, funds take 1 hour for RTGS and upto 6 hours for NEFT. Through HDFC and axis if done through NOW terminal, the funds get transferred immediately. NOW is also tying up with all the major banks.
Withdrawals: All requests have to be put into the backoffice software online, processed at the end of every day after settling for trades. Credits will happen the next working day.

6. Tips??? : We don't want to do what most of the other brokers are doing today. Give tips to generate brokerage!!! As a policy of the company we won't be getting into the space of giving tips because as a broker we believe it would be a conflict of interest. We with the help of our advisor Deepak shenoy are developing videos on training individuals to develop their own strategies. A lot of strategies which wouldn't have worked otherwise, will work beautifully with our model.

7. Customer support?? The reason we can offer at these rates are because we are trying to make it a more online model. We have a call center for you to place your trades and also customer service for any issues regarding our service. We are striving to create the best platform for active traders and unlike other brokers will be using the social media to do majority of our business. We are working on our facebook page, videos to show the processes from account opening to trading and back office etc... We will also look into all the other ideas that come through our clients which will go with our business model.
Queries can be put forward to india@zerodha.com with cc to nithin@zerodha.com

Nithin Kamath
Zerodha"

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